Going green isn’t just good for the environment – it can also be good for your pocketbook. Multiple studies by the United States Green Building Council (USGBC) have shown that in addition to saving you money in the short term, simple, cost effective green additions to your home can pay huge dividends on the eventual sale price of your property. Over the next few weeks I’ll be posting articles to help you take advantage of some of these additions and add real lasting value to your home.
How To Go Green and Increase Your Home’s Resale Value – Energy Efficiency
According to a 2007 study by the National Association of Appraisers, every $1 a homeowner knocks off their yearly energy bill translates into a $20.73 increase in the resale value of their home [source: Eco-Smart]. Considering that the average Americans annual energy bill runs somewhere around $2,200, that leaves a lot of low hanging fruit you can use to increase your property value [source: Energy Star].
There are lots of ways to reduce your energy bills, but sometimes the simplest and cheapest are actually the most effective. Before you do anything drastic like buy new windows or replace your central air/heating unit, try the simple step of re-caulking any places in your home where expensive heated or cooled air might be escaping. We’re talking windows, doorframes, cracks, and penetrations (for example, where cables or ducting come into your home). In fact, so much energy is wasted in the average home just from simple leaks like these that the USGBC estimates you could save as much as $100 A MONTH just from sealing them [source: USGBC].
The next simple, easy way to cut your energy bills and increase your property value is to replace all of your light bulbs with CFLs. CFLs have come a long way in the past few years, and gone are the days of ugly twisty bulbs that put out a light you can’t even read by. Nowadays, consumers have a wide range or choices concerning light frequency, shape and color, resulting in a much more satisfying experience. But most important, it will also save you big money: replacing just five incandescent bulbs in your home with CFLs can save you up to $100 a year [source: USGBC].
Finally, look into getting a programmable thermostat. A programmable thermostat works by regulating the temperature in your home based on a schedule you set. After all, why should you waste money heating or cooling your house when you aren’t in it? With a programmable thermostat, you set the temperature you want and the hours you’ll be home, and let the thermostat do the work. The best part is that these thermostats deliver savings without sacrificing comfort, because the thermostat will have your house back at the temperature you want before you even walk through your door. And we’re talking serious savings here: the US Department of Energy estimates that using a $40 programmable thermostat can lower your heating bill by as much as 10-15% [source: USDE].
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